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Search Results 0 to 17 of about 18 (some duplicates have been removed)
. >> sreenivasan: wall street racked up gains today after the federal reserve chairman, ben bernanke, said interest rates need to stay low. the dow jones industrial average gained more than 91 points to close at 10,374. the nasdaq rose 22 points to close near 2,236. public and private sector workers walked off the job across greece today. it was the second 24-hour strike in the last two weeks aimed at a government austerity plan. demonstrators clashed with police in athens, after a peaceful march had ended. they were protesting plans to cut government spending because of a debt crisis. greece has announced wage freezes, bonus cuts and pension reform over the last month to save almost $7 billion. the u.s. house has stepped up the pressure on health insurance companies. it came a day before the president's bi-partisan summit on health care reform. health correspondent betty ann bowser has the story. >> this meeting will come to order. >> reporter: the target at a house hearing today was wellpoint-- the parent company of california's anthem blue cross. >> corporate executives at wellpoint are thriving
tonight. thank you. the federal reserve chairman ben bernanke laid out the blueprint for the fed's plan to recoup all the money it loaned out in the great recession and in turn winding down the stimulus program. bernanke issued a statement saying the fed will try to raise the interest rate it pays banks to keep money in the u.s. central bank. analysts say that way banks would be less inclined to put money on risky investments. but they also say that could hurt consumers because those banks would have more incentive to sit on their money and earn interest rather than lend it out to you and me. but, bernanke says the plan will not be implemented until the economy is on a firmer footing. on wall street, the stock market managed to steady itself before the closing bell today. after hearing bernanke's plans concerning the central bank, stocks suffered sharp early losses before reversing course later in the day. the market ended up just about where it started. the dow dropped 20 to close a little bit above the 10,000 mark. the nasdaq down 3. the s&p off 2. while the fed works on the financial
at worldfocus.org. >>> in this country federal reserve chairman ben bernanke said today he's looking into weather goldman sachs and other wall street firms may have helped push greece toward financial ruin. the issue is is the use of those credit default swaps, th serve as an insurance against risk and let the banks gamble that greece might default on its debt. ultimately they make it more expensive for greece to borrow money. greece's debt crisis played out on the streets as well. thousands took part in a protest yesterd yesterday. such a default would be among the first of the 16 country that is use the euro as currency. questions are being raised about how the situation was allowed to get so out of control in the first place. for more on that, we are joined once again by a senior writer for bloomberg business week. >> hi martin. >> this is a little confusing, let's try to follow along. there have been reports of several american financial service companies, how they helped greece mask how bad the financial situation was in that country. how did that work? >> on a day-to-day level,
efforts by raising interest rates. chairman ben bernanke outlined the effort in written testimony for a congressional committee. bernanke said the economy still needs an easy money policy for now, but he added: "at some point the federal reserve will need to tighten financial conditions." the talk of higher rates kept wall street at bay. the dow jones industrial average lost 20 points to close at 10,038. the nasdaq fell three points to close below 2,148. thousands of workers in greece staged a national strike today, protesting a government plan to freeze salaries and cut bonuses. the 24-hour strike closed schools, and brought air travel to a halt. we have a report from john sparks of independent television news. >> reporter: it's easy to say, the 24-hour strike closed greece filed a test case for other indebted states. its huge socialist government plans been cuts. for many here on the streets of athens today it is not acceptable. "the capitalist government has declared war on the working classes. we will respond with war-like measures," said this mp. the government wants to raise
that dr. bernanke, if he has two patients, the one with a positive attitude does better. >> i agree with dr. bernanke, but stress does cause your arteries to con strict, it ka cause the arteries to build up faster, it can cause blood clots to form that causes a heart attack, that's the bad news. but stress is not simply something you do, more importantly it's how you react to what you do. if you practice some simple stress management techniques, you can be in the same job, you can go to haiti, and not have it affect it. you can accomplish even more without getting so stressed and without getting sick in the process. >> larry: sanjay, do you understand why the president is so passionate about haiti? >> he's had an affinity for this place for a long time, larry. i interviewed him when he was down here and talked about haiti with him a few times in the past. he had his honeymoon here, as i know you've talked about, larry, so he's been thinking about haiti for a long time. i think he has a strong affinity not only to haiti but to the haitian people living in haiti and the united states,
assurances by the federal bank. ben bernanke offered an up beat report on the nation's recovery yesterday. he told congress interest rates will remain low to encourage borrow ing. the dow rose 91 points after dropping more than 100 the day before. >> we have no idea which way the economy is going. bernanke has no idea which way the economy is going. >>> officials in florida are collecting eyewitness accounts in yesterday's deadly attack at seaworld, orlando, where an experienced trainer was killed by a 12,000-pound whale. the 40-year-old victim was snatched from the platform as the audience looked on in horror. witnesses say the killer whale thrashed her back and forth and dragged her under water. it's the third time this killer whale has been involved in a human death. >> the third time. a killer whale kills three times. the officials say they're not going to put the whale down wha killer whales do. >>> time to go to willie geist looking at what's going on in vancouver. willie? >> reporter: that's a terrible story, mika. let's move on to the olympics here. the hockey was the big story yester
bernanke is concerned about the nation's economic recovery. during the ceremonial swearing in for his second term, bernanke told staffers that despite a growing economy, far too many people remain unemployed. he also talked about the challenges facing the fed, which include protecting its independence from congress and making the institution more open and accountable. >>> president obama's aunt is preparing to make her second bid for political asylum. she'll go before an immigration judge if boston after defying a deportation order in 2004. she's expected to argue that ties to the president could make her a political target if she returns to kenya. her status was revealed shortly before president obama was elected in 2008. >>> and while many of you are gearing up for this sunday's super bowl, some in the nfl are worried that the game's days could be numbered. the players association fears owners will impose a work stoppage after the current collective bargaining agreement expires and they're taking their caught to capitol hill. the league says a new collective bargaining agreement wil
the federal reserve to take the lead on this. citing mr. bernanke does not want to step up and -- i think mr. bernanke, unfortunately, does not want to step up and take responsibility. i think the administration put a good deal of capital to work to make sure that he stayed on as chairman of the fed. but honestly, it would require presidential leadership at this point. we see encouraging signs, but also discouraging signs. the president said nice things about big bankers and their compensation just last week. you have to ask the white house where we are on this issue. host: simon johnson is the author of an upcoming book, "13 bankers." when will this come out? guest: when wilthe end of march. i do not think this problem is going to go away anytime soon. host: wyoming, republican line. caller: i would just like to say a few things and please do not cut us off because we do not get a chance to get in as many times as the democrats and the independent line. i'm a conservative woman of color. i notice every time on c-span and i get to be disappointed. and i will get to my question. i notice a ta
, and if the government pulls back too fast, if bernanke pulls back too fast or if the executive congressional branches pull back too fast, there is a question whether it would worsen things, i think that's legitimate. what i do believe you can put into place trigger mechanisms on medicare reforms, on medicaid reforms, on social security reforms, so that these things are in law and they're not just sort in imagination. it's hard, as you know, nor invei for investors to have much confidence in the future of the nation's finances when there's nothing and it's just talk and we're just continuing to talk. >> on that very point, there was a new report on rising life expectancy, which is a great thing, a great triumph of human medicine, but, you know, why don't we talk about raising the retirement age for medicare and social security gradually over the next 20, 30 years. it would save a lot of money. >> that's going to be a big discussion that we'll be having on this show very regularly, and we'll call on both of you to do it again, david gergen, cnn analyst, and stephen moore, "wall street journal" writer.
bernanke who was named by bush the federal reserve chairman, henry paulson, the treasury secretary. they said if they didn't do this bailout, the abyss would've happened and it wouldn't have been a recession, it would have been a depression. >> well, you know, a lot of people did offer that chicken little scenario. and equally other economists and people in the real banking world, for example, a communication i received from the president of bb & t asking the 435 members of the house and the 100 members of the senate not to vote in favor of the bailout because the money would not end up being used by banks to be loaned to consumers and you would have banks under the thumb of greater government control. and, indeed, though i don't like to use hank bolson as a source, he made it very clear that while mccain in the end supported it, when john suspended his campaign to go back to washington, and voters thought he's going to make a stand for us. john, instead of being the tell it like it is straight talk express guy, he meekly read a couple of talking points and went ahead with the whol
bernanke is not sitting next to me but yesterday, he delivered grim news about the nation's unemployment to congress. and our old buddy stuart varney is joining us right now. watched his testimony. it was scary when he was talking about the debt we're running up. but also the fact that unemployment is going to remain high for a while. >> if you listened carefully it was a pretty grim outlook for the u.s. economy. >> it was. >> he spelled it out. this is a very weak recovery and a jobless recovery to boot. you won't get back down to even 7 1/2% unemployment for a couple of years. the end of 2012. a jobless, weak recovery. not good. >> he's not raising interest rates. and that made -- >> the stock market looks to lower interest rates. that's basically it. if you keep interest rates way, way down, markets love it. >> what that said to me when he made the comments is people sitting in the obama administration will say well, that's our green light for more stimulus plan. > >> well, it's also a signal that the first stimulus plan all $862 billion worth of it did not work as advertised. proof
bernanke scheduled to testify before a house committee today. but this was all about unwinding the fed's $2.2 trillion emergency liquidity programs. the hearing has been postponed but his prepared testimony will be released at the top of the hour. several economic reports also being delayed today. on wall street expect light trading volume as folks focus more on the snow and less on stocks. despite all that, the dow is expected to continue to rise after yesterday's 150-point gain. investors are hopeful thedisney network rebounded but the theme parks continue to struggle. same for the movie studios. >>> google launching a new social networking service called the google buzz. it will allow users to post photos and links to their websites. yahoo! an microsoft claim they've been running similar services for years. >>> early numbers here, looks like we're down but just ever so barely. off 12 points. 10,046. still above 10,000. nasdaq off fractionally at this time as well. >>> finally, one more note. southwest airlines has slashed its ticket prices until tomorrow. the carrier is selling one-way t
them like you hate a root canal. that means ben bernanke, you guys were the dentists. how does that make you feel the thing that everyone hates sts thing you had to do. >> i felt like i was having a root canal without anesthesia at the same time. there's a scene in my book "on the brink." and this was a day or two before we were going to need to step in and rescue citigroup. what really hit me was that i was forever going to be associated with these bailouts and the treasury secretary that did these interventions. then i said, that will be the good news. the bad news will be if we can't cobble together something that works for citigroup and it goes down, i'll be one who presides over another great depression. >> remember it was fanny and fred die and city citigroup and a whole host of other banks, ways to try to fix this without public intervention. he talks about the realization he was going to be forever knowns the guy behind the bailouts and how shocking it was. it came to him walking through the reagan library working through the citigroup stuff, the temple of free market t
, some news today. federal reserve chairman ben bernanke told the senate banking committee today and his second day of testimony on capitol hill this week that interest rates will have to stay low for a lengthy period to counter a weak job market. the u.s. central bank chief prepared remarks were virtually identical to those delivered yesterday to the house financial services committee. and cheaper nike also told lawmakers that goldman sachs and other wall street firms may be looking into a sophisticated instrument investment instrument to make bets that greece will default on its debts. also about the healthcare summit which you can see live on c-span3 and c-span.org, a story from yahoo news saying that a consensus on how to rein in spiraling healthcare costs seem to be emerging as president obama some that the president agreed with assertions by oklahoma republican senator tom coburn that abuse them out account up to a third of the cost of a time of programs like medicare and medicaid. and is a major barrier to worldwide insurance coverage. senator coburn said that the cost is the chie
market overseas are down in anticipation of fed chairman ben bernanke's testimony. that will happen in congress and will happen today. he's talking where the economy is going and what's going to happen to interest rates. it comes a day after the consumer confidence index dropped 10 points. i'm competent this segment will with gretchen. >> freedom of speech is live and well in america's universities, we know that, right? unless you're saying something that the students don't like. check out recently happened at u.c. irvine when the israeli ambassador to the u.s., michael orrin tried to deliver a speech he was invited to make. >> it's a source of frustration the person who spent much of his life speaking hebrew. >> not -- >> haven't come to this campus to hear one idea. you've come to hear a multiplicity of ideas. >> guilty of 100 -- >> you, sir are responsible for genocide. >> ok. fox news contributor tucker carlson is joining us this morning from washington. good morning to you, tucker. >> good morning. >> that's disgraceful. they invite this guy to the university to speak and c
Search Results 0 to 17 of about 18 (some duplicates have been removed)